The global air ambulance service market is expected to reach
Newark, NJ, June 02, 2021 (GLOBE NEWSWIRE) – According to the report published by Fior Markets, the global air ambulance services market is expected to grow from USD 4,637.47 million in 2020 to USD 10,027.92 million by 2028, at a CAGR of 10.12% during the forecast period 2021-2028
There are factors that are driving the growth of the global air ambulance service market. Some of them include the increase in medical tourism, the increase in the geriatric population, the entry of new ambulance service providers, favorable reimbursement policies and an increasing number of road accidents and accidents. CVD case. In addition to this, improved access to effective emergency treatment, increased per capita health expenditure attributed to improved economic conditions, appropriate reimbursement policies, increasing number of multinational hospitals equipped with appropriate air ambulance services , improvement of medical infrastructure in rural areas, increase in the prevalence rate of cardiovascular diseases globally and the strategic collaboration initiatives of important market players are fueling the growth of the global air ambulance services market.
Air ambulance services are specially equipped air vehicles with advanced medical equipment with a highly qualified medical team. The system also includes trained healthcare professionals who provide immediate treatment to the patient until the ambulance reaches the nearest hospital. In addition, air ambulance services are equipped with advanced life care services (ALS). The Federal Aviation Administration (FAA) has established strict safety regulations for air ambulance services. The equipment found in an air ambulance typically includes defibrillators, monitoring systems, and breathing apparatus. Air ambulance services transport patients directly from their residence or accident to health care facility such as multispecialty hospitals.
The global air ambulance services market is expected to experience significant growth owing to the need to maximize air ambulance assets to provide better emergency care and generate more profitable returns. In addition, advancements such as online booking of air ambulance services are creating positive prospects for the market. The factors limiting the growth of the market are the strict rules and regulations of governments which have put a strain on medical services. In addition, each producer and manufacturer must comply with the directives and authorizations issued by the governing bodies. An insufficient number of aircraft is expected to jeopardize the growth of the market. The increasing number of service providers is expected to provide a significant opportunity for the market growth.
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The major players operating in the air ambulance services market are IAS Medical, Ltd, Lifeguard Air ambulance, American Air Ambulance, AMR, Babcock Scandinavian Air Ambulance, REVA, Inc. PHI Air Medical and Express Air Medical Transport. To gain significant market share in the global air ambulance services market, major players are now focusing on adopting product innovations, mergers and acquisitions, recent developments, joint ventures, collaborations and partnerships. AirMed International, REVA, Inc. and Lifeguard Air ambulance are key manufacturers operating in the air ambulance service market.
- For example, in October 2020, the subsidiary of Lifeguard Air ambulance Corporation, said it was opening a new operations support base in Evergreen, Alabama, United States, to provide emergency air medical services.
- For example, in May 2020, AirMed International, a subsidiary of Global Medical Response Inc., reported that the Company had obtained a medically configured, fixed-wing Hawker 800XP aircraft for its base in Birmingham, Alabama.
- For example, in April 2020, REVA Inc. said the company had started offering its life-saving service to COVID-19 positive patients. The company said it will take all possible steps to maintain security. Thus, the company has created a new isolation system in the air ambulance, the ISOVAC CAPSULES patient isolation unit.
Hospital segment dominated the market and held the largest market share of 55.16% in 2020
On the basis of the service model, the global air ambulance service market is segmented into community and hospital. The hospital segment dominated the market and held the largest market share of 55.16% in 2020. This growth is attributed to improved business models and types of services of hospitals.
The rotary airfoil segment dominated the market and held the largest market share of 57.05% in 2020
On the basis of type, the global air ambulance service market is segmented into comprises of fixed-wing and rotary-wing aircraft. The rotary airfoil segment dominated the market and held the largest market share of 57.05% in 2020. This growth is attributed to the ease of landing on the ground, streets and roofs increase the accessibility of these facilities. In addition, the increasing development of helicopters by leading manufacturers dedicated to providing healthcare services is expected to support the growth of the market.
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Regional Segment Analysis of Air Ambulance Services Market
- North America (United States, Canada, Mexico)
- Europe (Germany, France, United Kingdom, Italy, Russia, rest of Europe)
- Asia-Pacific (China, Japan, India, rest of APAC)
- Latin America (Brazil)
- The Middle East and Africa (South Africa, Saudi Arabia and the rest of the MEA)
On the basis of geography, the air ambulance service market has been classified as North America, Europe, Latin America, Asia-Pacific, Middle East and Africa. North America held the largest market share of 28.16% in 2020. This growth is attributed to the strong presence of external and local service providers, favorable reimbursement policies and the availability of organizations. favorable for air medical transport in the region. On the other hand, Asia-Pacific is expected to experience significant growth due to the improving economy of emerging countries and a huge increase in air medical facilities in countries like Japan, India and the United States. China and growing government investment in health care.
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About the report:
The Global Air Ambulance Service Market is analyzed on the basis of value (Million USD). All segments were analyzed on a global, regional and national basis. The study includes analysis of over 30 countries for each segment. The report offers in-depth analysis of driving factors, opportunities, restraints, and challenges to gain key insights into the market. The study includes the model of the five forces of the wearer, the analysis of attractiveness, the analysis of raw materials and the analysis of the positioning grid of the competitors.
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